Global demand for plasticizer alcohol is expected to witness significant growth over the forecast period owing to widespread use of plasticizers in numerous end-use industries including automotive, construction, chemical processing, plastics and paints & coatings. Increasing application scope for PVC plastics over the past few years has triggered the demand for plasticizer alcohols which is expected to have a positive impact on market growth. Growing lubricating oil market on account of growing automotive industry, particularly in emerging economies of China, India, Brazil and Mexico is anticipated to propel market demand. Furthermore, rapid industrialization coupled with growing construction activities in Middle East and African countries is expected to propel demand for alcohol plasticizers over the next six years. However, presence of stringent government regulations in Europe restricting the use of phthalates and other derivatives of plasticizers is expected to pose a threat to plasticizer alcohols market growth. Additionally, presence of substitutes including benzoates, aliphatics and other specialty plasticizers is likely to have negative impact on market demand.
Plasticizer and its derivatives was the largest application segment of plasticizer alcohols in 2013 accounting for nearly half of the global consumption. This trend is expected to continue over the next six years on account of increasing application scope in numerous end-use industries. Market for plasticizer alcohols is segmented on the basis of product types into n-butanol, 2-ethylhexanol (2-EH) and 2-propylheptanol (2-PH). 2-butanol is widely used as a solvent in various chemical and cosmetic industries and is expected to be the largest product segment over the next six years. In addition, plasticizer alcohols are segmented on the basis of applications into plasticizers, acrylate esters, solvents and lubricating oil additives. Lube oil additives are expected to be the fastest growing segment on account of increasing demand for specialized lubricants.
Asia Pacific was the largest market for plasticizer alcohols in 2013 with China dominating the global market followed by Europe and North America. Central & South American markets are also expected to have strong growth prospects on account of rise in automobile manufacturing and chemical processing units in Brazil and Mexico. European market is anticipated to witness moderate growth rate owing to stringent regulations limiting the use of phthalates.
Key major players that dominated the plasticizer alcohol market include Evonik Industries, LG Chem, BASF SE, Shell Global, Eastman Chemical Company, Shandong Qila Plasticizers Co. Ltd., Shandong Hongxin Chemicals Co. Ltd, Aekyung Petrochemical Co.Ltd and ExxonMobil Corporation.
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